It’s June 2024, and vehicle sales details for May 2024 will roll in today, Big OEMs such as Maruti Suzuki, Hyundai, Tata Motors, Royal Enfield, Mahindra, Suzuki, TVS, and others will share details today. Last month, most manufacturers saw a YoY growth in sales and this month, will the success story continue? Let’s find out.
The battle between Hyundai and Tata Motors is sure to continue for second place, while Maruti Suzuki will continue to dominate the Indian market in terms of car sales, while Hero MotoCorp will lead the two-wheeler segment. So here are all the live sales updates from May 2024.
Auto sales May 2024 highlights: Maruti Suzuki, Hyundai, Tata Motors, Hero MotoCorp, Bajaj, TVS, Royal Enfield and more
Hero MotoCorp‘s latest launch is the new Splendor+ Xtec 2.0 which marks the 3-the anniversary of the Splendor range of motorcycles in the country. It is priced at Rs 82,911 (ex-showroom).
Hero MotoCorp has sold 10,31,708 units in the first two months (Apr-May 2024) of the financial year FY2024-25, registering a growth of 12.6% over the corresponding months (Apr-May 2024) when the company sold 915,581 units.
Hero MotoCorp sold 479,450 units in the domestic market and 18,673 units were exported to foreign markets. This resulted in a 5.7% YoY decline for the domestic market and 67.24% surge in exports.
Both motorcycles and two-wheeler sales of Hero MotoCorp have witnessed a fall in May 2024, with 471,186 units and 26,937 units sold, respectively. Motorcycles sales are down by 3.7% YoY and scooter sales are down by 10.6%.
Hero MotoCorp, the world’s largest manufacturer of two-wheelers, sold 498,123 units in May 2024 as compared to 519,474 units sold in May last year. This resulted in a negative YoY growth of 4%.
In terms of exports, Eicher witnessed a 66 percent growth, having exported 416 units.
VE Commercial Vehicles has registered 8.2 percent growth in domestic sales last month, having sold a total of 6,304 vehicles as compared to selling 5,826 units in May 2023.
In May 2024, M&HCVs accounted for 8,551 units, witnessing a YoY growth of 13 percent, while LCVs registered sales of 5,301 units, witnessing an 11 percent YoY growth.
Ashok Leyland has registered 12 percent domestic growth in May 2024, with its overall CV sales accounting for 13,852 units in May 2024, as compared to 12,378 units.
Here are some of the key trends revealed by Hyundai:
Hyundai Creta has recorded a monthly sales 14,662 units in May 2024. Further, Hyundai claims that the Creta N Line has the highest waiting period of 10 weeks.
Ola Electric recently marked its entry into the mass-market electric two-wheeler segment with the S1 X range which is available in three battery configurations: 2 kWh, 3 kWh, and 4 kWh. The scooters are priced at Rs 74,999, Rs 84,999, and RS 99,999 (all ex-showroom prices), respectively.
Ola Electric continues to dominate the electric two-wheeler market, claiming 49% market share. The company recorded 37,191 registrations (according to government’s VAHAN Portal) during May 2024.
However, Suzuki’s exports went down to 19,480 units in May 2024 from 24,276 units in May 2023. This translates to 19.75% YoY decrease.
Suzuki sold a total of 1,11,512 two-wheelers in May 2024, as compared to 91,316 units sold during the same month last year, returning a 22% YoY growth. Domestic sales of Suzuki increased by 37% with 92,032 units sold in May this year, as compared to 67,040 units sold during the same month last year, leading to a 37% YoY growth.
Models exceeding 350cc including Himalayan 450, Scram 411, Interceptor 650, Continental GT 650, Super Meteor 650, and Shotgun 650 cumulatively recorded sales figure of 11,158 resulting in 20% YoY growth.
As expected, majority of Royal Enfield’s sales were driven by its 350cc models including Classic 350, Bullet 350, Meteor 350, and Hunter 350. The bikemaker sold 59,852 units of 350cc models in May 2024, which resulted in a 13% YoY decline.
Royal Enfield sold a total of 63,531 units of motorcycles in May this year as opposed to 70,795 resulting in a 10% YoY decline. Exports grew by 12% with 7,479 units shipped to overseas markets in May 2024.
Royal Enfield posted sales of 71,010 motorcycles in the month of May 2024 as against 77,461 motorcycles sold during the same month last year. This resulted in an 8% YoY decline.
Bookings for the all three models under the Dream Series Edition are currently underway. Offer will remain valid till 30th June 2024.
The new Dream Series Editon is focused on rejuvenating the entry-level segment. Dream Series Edition will offer additional features like infotainment system, rear parking sensors and much more.
Maruti Suzuki has also announced the launch of Dream Series edition of three entry-level hatchbacks including Alto K10, S-Presso and Celerio. All three Dream Series model are priced at Rs 4.99 lakh (ex-showroom),
Maruti Suzuki has announced price reduction of all AMT models including Alto K10, S-Presso, Wagon-R, Celerio, Baleno, Dzire, Ignis and the new Swift by Rs 5,000.
With the launch of the new-gen model, Swift became Maruti Suzuki's best-selling model with 19,393 units sold in May 2024. Prices for the new-gen Swift start at Rs 6.49 lakh and go up to Rs 9.50 lakh (both ex-showroom). In addition, the all-new Swift receoved 40,000 bookings in May.
Exports for Tata Motors increased by 257% which included 386 units being exported to foreign countries in May this year. In May last year, this figure stood at only 106 units.
Tata Motors sold a total of 5,558 units of EVs in May 2024, including domestic sales and exports. This led to a 4% YoY decline from 5,805 units sold in May 2023. Currently, Tata Motors has four EVs in its lineup including Tata Tigor EV, Tata Tiago EV, Tata Nexon EV and Tata Punch EV. More EVs from Tata Motors are lined up launch this year.
Tata Motors sold a total of 46,697 PVs, including electric vehicles, in the domestic market in May 2024. This resulted in a marginal 2% YoY growth over 45,878 units sold by the company in May last year.
The compact segment of Maruti Suzuki was the biggest contributor to the volume with 68,206 units sold in May 2024. This segment comprises models such as Baleno, Celerio, Dzire, Ignis, WagonR and the all-new Swift. Maruti launched the new-gen Swift in India earlier in May this year.
Maruti Suzuki sold a tota of 78,838 units of sedans and hatchbacks in May 2024. This included 78,108 units in the compact sub-4 metre space. Besides, Maruti also sold 10,960 units of Eeco in May this year.
Maruti Suzuji sold a total of 54,204 units of SUVs in May 2024, thus claiming the “Number One SUV maker in India” title. As compared to May last year, when Maruti sold 46,243 units of SUVs, the carmaker has registered a YoY growth of just over 17%.
